2024-12-31-accounts - The British Art Medal Trust

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The British Art Medal Trust

Registered Charity number 288869

TRUSTEES' ANNUAL REPORT & UNAUDITED FINANCIAL STATEMENTS Year to 31 December 2024

c/o Department of Money and Medals, British Museum, London WC1B 3DG

https://bams.org.uk

Contact for Membership Secretary and Treasurer;

BAMS.membership@gmail.com

The British Art Medal Trust Charity number 288869 TRUSTEES’ ANNUAL REPORT

Year to 31 December 2024

The charity was created by Declaration of Trust on 6 January 1984.

The main objects of the charity are the revival, encouragement, support and development of medallic art in the United Kingdom.

The charity continues to support medallic art by means of publications, in particular a biannual journal, The Medal , and by financial assistance to the educational activities of The British Art Medal Society. The Society organises a programme of lectures, an annual conference, an international medal competition for students and an annual bursary and mentoring to encourage new medallists.

The Trust Deed requires that the trustees take into account the wishes of the Council of the Society.

Trustees are appointed by resolution of a Meeting of the Trustees. The trustees throughout 2024 were;

Philip Attwood Marcy Leavitt Bourne Julian Cross Janet Larkin Ron Dutton Eldon Allison (up to 26/06/2024) Sir Mark Jones

The principal address of the charity is;

c/o Department of Money and Medals, British Museum, London WC1B 3DG

Bankers to the charity are;

Royal Bank of Scotland, Liverpool CSC, Stephenson Way, Wavertree, Liverpool L13 1HE

Approved by order of the Trustees and signed on their behalf by:

Signed Anna Hopper Treasurer Date 09/11/25

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The British Art Medal Trust Charity number 288869 INDEPENDENT EXAMINER’S REPORT

Year to 31 December 2024

I report to the trustees on my examination of the accounts of The British Art Medal Trust (“the Trust”) for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect:

accounting records were not kept in accordance with section130 of the Act, or
the accounts do not accord with the accounting records

I have no concerns and I have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Signed –

Callum Brownson-Smith

6a Esplanade, Tyne and Wear, NE26 2AG Signed

Date – 09/11/2025

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The British Art Medal Trust DETAILED INCOME & EXPENDITURE ACCOUNT Year to 31 December 2024

Notes PUBLICATIONS Subscriptions, Associate Members FIDEM contribution to_The Medal_costs Advertising revenue Royalties for_The Medal_ Sales of back issues & other publications, net of fulfillment costs Post & packing recovered Funding;Encounters with Medals, 40 Years Production & distribution costs;The Medal,_two issues Production costs;_Encounters with Medals, 40 Years Purchase of back issues Post & packing Money & Medals contribution	12,892 - 250 - 200		20,746 - 315 222 200	2023 £ 5,524 9,344 2,404 1,077 1,139 280 -
				19,768 21,483
	£ 2,550 3,072 4,456		£ 2,800 2,979 1,869
				(1,715) 8,300 -
STUDENT MEDAL PROJECT Sponsorship & designated funding Sale of catalogue Prizes awarded Catalogue production Other costs
				8,300 7648
	£ 1,500 -		£ 3,500 500
				652
NEW MEDALLIST SCHEME Sponsorship Bursary to New Medalist Tuition & mentor costs				4,000 4,000
	£ 122 -		£ 115 265 -
				- 770 770
MEDAL MAKERS AWARD Funding from Medal Makers Award fund Grants made
				-
OTHER INCOME & EXPENSE Grant & other income Interest income Interest gifted from Society Bank & Paypal charges FIDEM Contribution to Society overheads Grant applied to Medal Makers Award Fund		-		950 322 468
				1,740 380
	£ £		£ £
				1,360 (500)
				860 (1,715) 652 - 860
SUMMARY Surplus/(Defecit) on Publications Surplus on Student Medal Project Surplus on New Medallist Scheme Surplus/Deficit on Other Income & Expense Net (deficit)/surplus for the year
				(203)

The notes form part of these financial statements

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The British Art Medal Trust BALANCE SHEET at 31 December 2024

Notes 2 3 Herbie W Herbert Ditchling Prize Bequest Prize 1,500 650 400 - - 500 - - - -	2024 £ £ - 1,438 - 35 48,010 49,483 - 4,792 - 4,792 44,691 £ 44,691 19,366 6,974 26,340 Medal Makers Award 15,716 18,266 - 500 - - (415) (415) - 15,301 18,351 £ 44,691	2023 £ £ - 5,900 3,297 - 46,389 55,586 8,172 6,821 2,961 17,954 37,632	2023 £ £ - 5,900 3,297 - 46,389 55,586 8,172 6,821 2,961 17,954 37,632
	49,483
	- 4,792 - 4,792

	£	£	37,632
	Medal Makers Award 15,716 - - (415)	18,636 600 - (970) (-)	19,569 (203)
			19,366 18,266
1,500 650 900	15,301

	£	£	37,632

The notes form part of these financial statements

Approved by the Trustees and signed on their behalf by:

----- Start of picture text -----
Signed
Anna Hopper
Treasurer
Dated 09/11/25
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The British Art Medal Trust NOTES TO THE FINANCIAL STATEMENTS Year to 31 December 2024

Accounting Policies

1.1 Basis of preparation of accounts

The financial statements of the trust have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice. The financial statements have been prepared under historical cost convention, as modified by the revaluation of certain assets.

Income

All income is recognised in the financial statements once the trust has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Expenditure is recognised as soon as there is a legal or constructive obligation committing the trust to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to category.

1.4 Value Added Tax Value added tax is not recoverable by the trust, and as such is included in the relevant costs in the financial statements.

Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the financial

Fixed Assets

The Library set of The Medal journal is not valued in the financial statements.

Bank balances		2024		2023
RBS current account		5,447		7,194
RBS Liquidity 95 day notice deposit		40,479		38,901
Virgin Money deposit		-		-
PayPal		2,084		294
	£	48,010	£	46,389

4 Stock

Historically the stock of publications held for resale has not been valued.

5 Designated Funds
a. Gift and Bequest from the late W. Herbert to be used for educational or other purposes at the discretion of the trustees.
b. The Medal Makers Award Fund to assist newly graduated artists to continue to make medals, awarded annually on application at the discretion of the trustees.
c. The Herbie and Ditchling prizes are awarded annually at the discretion of the judges of the Student Medal Project.

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